About Park Hotels & Resorts

Park Hotels & Resorts Inc. operates a lodging real estate company with a portfolio of hotels and resorts. The company’s portfolio includes 67 branded hotels and resorts with approximately 35,000 rooms located in prime United States (U.S.) and international markets. Approximately 85% of the company’s rooms are luxury and upper upscale and approximately 90% are located in the U.S. approximately 70% of the company’s rooms are located in the central business districts of major cities and resort/conference destinations. Hotel Laundry Operations: As of December 31, 2016, the company owned and operated 3 commercial laundry facilities located in Piscataway, New Jersey, Portage, Indiana, and Portland, Oregon that service approximately 30 hotels, including 6 of its owned hotels. The company (or certain joint ventures in which it owns an interest) is also party to certain leases for facilities related to certain hotels owned by the company (or such joint ventures), including the DoubleTree by Hilton Hotel Las Vegas Airport, the Hilton Hawaiian Village Beach Resort, the Hilton Waikoloa Village, the Embassy Suites by Hilton Alexandria Old Town, the Hilton New Orleans Riverside and the New York Hilton Midtown. These leases are all triple net leases or modified triple net leases and relate to facilities related to such hotels, including leases for parking, restaurant space, dock space or other hotel-related uses. Strategy The company’s strategy includes pursuing growth and diversification through a thoughtful external growth strategy. Government Regulations The company is subject to the Americans with Disabilities Act and similar legislation in certain jurisdictions outside of the U.S. In addition, the company’s business operations in countries outside the U.S. are subject to various laws and regulations, including restrictions imposed by the Foreign Corrupt Practices Act, as well as trade sanctions administered by the Office of Foreign Assets Control. History Park Hotels & Resorts Inc. was founded in 1919.